Tips for Being Money Wise

Since the economy took a nose dive in 2008 people have been trying to pinch the pennies. Now in 2015 things are starting to turn around, thankfully. I watched as my parents and neighbors worried about money and I never want to have to worry like they did. So, that’s why I’ve been trying to find ways to save for rainy days, or when I have to join the “Adult world.” Let me share what I’ve found.

Is it a want or a need? This is question I ask before I put anything in my cart. If it’s a want I can normally talk myself out of buying the item. These items can become Christmas gift ideas if you still want it down the road. If it’s a need, can I find it on sale or get a generic of the item?

Get creative with your entertainment. I haven’t felt the need to have T.V due to the fact that I can get my news and shows of the internet. Most newspapers will also publish their stories online, same with some magazines. For shows, again I can find most of them online on sites such as Hulu and Coke and Popcorn. Both of these are free. You can upgrade to hulu+ for $8 a month or you can get Netflix for the same amount. For reading materials try getting to know your local library. And for entertaining friends, why not have a night in? Make your own food or order pizza and watch a movie you already own.

Know you budget. Everyone should have a budget, know what it is and stick to it. A hint for this is to estimate you expenses higher than they actually are and estimate your income lower than it is. By doing this you will feel the need to watch what you spend and think twice about bigger purchases. Not to mention you will be able to put more into savings.

Get healthy. Think about it. If you are sick you go to the doctor, maybe get a prescription, maybe miss a day of work and in the worst case you got to emergency care. By no means am I saying not to get medical help if you need it. But if you take care of yourself you can avoid the unavoidable costs of getting sick.

Cut of the unnecessaries. I don’t need to say how bad smoking and drinking is, everyone has hear that enough. But a one pack of smokes could get you a meal at the grocery store. Alcohol is the same thing. Now how about things you sign up for but don’t use, like gym memberships? You can get the same burn for free outside if the weather is nice and at home if its not. Need a work out partner? Ask a friend over and make it a weekly catch up date.

These are just a few tips that anyone can use, adult, college student or what have you. But in case I missed anything try this article by greatist.com. It has 94 different ways to creatively save money.